The 18th COC e-voting has been extended and will be open ......2021/01/14 · Login id and...

Status as on 14.01.2021

The 18th COC e-voting has been extended and will be open for casting vote till 11.00 am Friday, 15.01.2021.

Login id and passwords will remain same as shared earlier by linkstar infosys pvt.ltd.

Hence, no new log in id and passwords will be sent.


Steps to Download “DHFL_ Indicative Class wise Distribution Working as per Benpos date

23.10.2020” in Voting related folder

If Download Option is Available in your computer:

Click in the download option

The downloaded file will open in Excel Format itself

Save the file through excel sheet

The file automatically will be saved in the excel format

If Download Option is NOT Available and ONLY Print Option is Available:

Click on the print option and save the file (the excel file will be automatically saved into pdf

format).

Then go to Chrome or any other server and go to the site “I Love PDF”.

Select the option called “Convert pdf into excel”.

Drag the pdf file on the option “Convert pdf into excel” and click on “Convert”.

The pdf file will be converted into excel.

File will get downloaded.


The minutes of the 18th COC meeting held on 24.12.2020 received from Administrator on 30.12.2020

at 03:32 a.m. The same are uploaded on VDR (SmartRoom).

There are nine items on which debenture holders are expected to vote through e-voting process.

Accordingly, the e-mails for e-voting will be sent through M/S Linkstar Infosys Pvt. Ltd., to all debenture

holders on their e-mail IDs registered in BENPOS as on 25.12.2020. If email id is not reflected in the

in benpos login credentials will not be generated for e-voting.

Debenture holders are requested to go through the minutes and related documents as uploaded in

Smart Room before voting.

The timelines for e-voting are as under:

Start Day, Date & Time: Wednesday, 30.12.2020 – 09.00 p.m.

End Day, Date & Time: Thursday, 14.01.2021 - 05:00 p.m.

As mentioned in the status dt.15.01.2020, DT will cast his vote in CoC based on directions received

from DH through E-voting.

We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS-https://apps.apple.com/in/app/my-trustee/id1493251016 Status as on 21.12.2020:

Notice and Agenda of 18th CoC meeting has been updated on the VDR (SmartRoom).

We once again urge upon the debenture holders to ensure that the e-mail ID, with appropriate authority to cast e-vote, be registered with the RTA / DP on priority basis, so that proper e-mail ID appear in BENPOS.

If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form. We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS-https://apps.apple.com/in/app/my-trustee/id1493251016 Status as on 15.12.2020:

Notice and Agenda of 17th CoC meeting has been updated on the VDR (SmartRoom). Further, minutes

of 16th CoC meeting has been updated on the VDR (SmartRoom).


If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form. We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en

https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en

IOS-https://apps.apple.com/in/app/my-trustee/id1493251016



at 12:17 a.m. The same are uploaded on VDR (SmartRoom).

There are two item on which debenture holders are expected to vote through e-voting process.







Start Day, Date & Time: Friday, 11.12.2020 – 03.00 p.m.

End Day, Date & Time: Monday, 14.12.2020 - 05:00 p.m.



Further, Notice and Agenda of 16th CoC meeting has been updated on the VDR (SmartRoom).


If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form. We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS-https://apps.apple.com/in/app/my-trustee/id1493251016

Status as on 07.12.2020:

https://apps.apple.com/in/app/my-trustee/id1493251016https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016



If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form. We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en

IOS-https://apps.apple.com/in/app/my-trustee/id1493251016


Voting results of 14th CoC meeting has been updated on the VDR (SmartRoom).


If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form.

We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS-https://apps.apple.com/in/app/my-trustee/id1493251016


The 14th COC e-voting has been extended and will be open for casting vote till 2.00 pm Wednesday, 2.12.2020.

Login id and passwords will remain same as shared earlier by linkstar infosys pvt.ltd.

https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016

Hence, no new log in id and passwords will be sent.

Further, there are few minor changes in minutes and resolution. Revised minutes and resolutions have been replaced accordingly in SmartRoom. Debenture holders who have already voted can modify their

vote using same login id and passwords.



at 11:45 p.m. The same are uploaded on VDR (SmartRoom).

There are two item on which debenture holders are expected to vote through e-voting process.








End Day, Date & Time: Sunday, 29.11.2020 - 05:00 p.m.













at 05:45 p.m. The same are uploaded on VDR (SmartRoom).

There is single item on which debenture holders are expected to vote through e-voting process.







Start Day, Date & Time: Saturday, 21.11.2020 – 11.00 a.m.

End Day, Date & Time: Monday, 23.11.2020 - 05:00 p.m.



We also request you to download our Mobile Application- “My Trustee” from the links given below: Android -https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS-https://apps.apple.com/in/app/my-trustee/id1493251016











The minutes of the 10th C0C meeting held on 06.11.2020 have been uploaded on VDR (SmartRoom).







Notice and Agenda of 10th CoC meeting has been uploaded on the VDR (SmartRoom).








The 9th CoC e-voting has been extended and will be open for casting vote till 4.00 PM Monday,

02.11.2020.

Login ID and Passwords will remain same as shared earlier By Linkstar Infosys Pvt.Ltd. Hence, no

new Login ID and Passwords will be sent.


The minutes of the 9th C0C meeting held on 26.10.2020 received from Administrator on 29.10.2020 at

12:12 a.m. The same are uploaded on VDR (SmartRoom).

There is a single item on which debenture holders are expected to vote through e-voting process.







Start Day, Date & Time: Thursday, 29.10.2020 – 05.00 p.m.

End Day, Date & Time: Saturday, 31.10.2020 - 07:00 a.m.





We once again urge upon the debenture holders to ensure that the e-mail ID, with appropriate authority tso cast e-vote, be registered with the RTA / DP on priority basis, so that proper e-mail ID appear in BENPOS.









There are two items on which debenture holders are expected to vote through e-voting process.







Start Day, Date & Time: Tuesday, 20.10.2020 – 03.00 p.m.

End Day, Date & Time: Thursday, 22.10.2020 - 03:00 p.m.






If your Email ID is already registered, please follow the steps mentioned below in order to get your

email id reflected in BENPOS.- 1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form.








There are five items on which debenture holders are expected to vote through e-voting process.







Start Day, Date & Time: Saturday, 12.09.2020 – 04.00 p.m.

End Day, Date & Time: Tuesday, 15.09.2020 - 01:00 p.m.










If your Email ID is already registered, please follow the steps mentioned below in order to get your email id reflected in BENPOS.-

1. For CDSL- Ask your DP to enable EMAIL D/L Flag option. 2. For NSDL- Ask your DP to enable FLAG to receive all communications from issuer and RTA in Electronic Form.


The 6th CoC e-voting has been extended and will be open for casting vote till 2.00 PM Wednesday,

August 5th, 2020.





07:46 p.m. The same are uploaded on VDR (SmartRoom).

There are two items on which debenture holders are expected to vote through e-voting process.






The time-lines for e-voting are as under:

Start Day, Date & Time: Saturday, 01.08.2020 – 04.00 p.m.

End Day, Date & Time: Tuesday, 04.08.2020 - 02:00 p.m.

As mentioned in the status dt.15.01.2020, DT will cast his vote in CoC on the basis of directions

received from DH through E-voting.











The 5th Coc Evoting has been extended and will be open for casting vote till 1.00 PM Monday, May

18th 2020.





08:42 p.m. The same are uploaded on VDR (SmartRoom).

There are three items on which debenture holders are expected to vote through e-voting process.








End Day, Date & Time : Sunday, 17.05.2020 - 11:00 p.m.









Debenture Holders are requested to keep visiting our website and Smart Room from time to time to get the updates with respect to DHFL during the lockdown period. Bulk mail was sent in this regard to Debenture Holders on 16.04.2020 on the registered email IDs as per the Benpos.










The minutes of the 4rd C0C meeting held on 11.03.2020 received from Administrator on 13.03.2020 at




holders on their e-mail IDs registered in BENPOS as on 06.03.2020. The debentureholders are

requested to go through the minutes and related documents as uploaded in Smart Room before voting.



End Day, Date & Time : Monday, 16.03.2020 - 06:00 p.m.





We once again urge upon the debenture holders to ensure that the e-mail ID, with appropriate

authority to cast e-vote, be registered with the RTA / DP on priority basis, so that proper e-mail

ID appear in BENPOS.


The E-voting results of 3rd CoC meeting & list of Provisional Resolution Applicants as provided by

Administrator has been uploaded on SmartRoom.


The minutes of the 3rd C0C meeting held on 20.02.2020 received from Administrator on 23.02.2020 at




holders on their e-mail IDs registered in BENPOS as on 14.02.2020. The debentureholders are

requested to go through the minutes and related documents as uploaded in Smart Room before voting.


Start Day, Date & Time : Monday, 24.02.2020 - 01:00 p.m.

End Day, Date & Time : Wednesday, 26.02.2020 - 01:00 p.m.




Notice and Agenda of 3rd CoC meeting has been updated on the VDR (SmartRoom).

We once again urge upon the debenture holders to ensure that the e-mail ID, with appropriate

authority to cast e-vote, be registered with the RTA / DP on priority basis, so that proper e-mail

ID appear in BENPOS.


New Documents with respect to IBC Proceedings has been uploaded in VDR (Smart Room)


DHFL has released a Notice to its debenture holders, in Times of India and Navbharat Times of 10th Feb., 2020 requesting to update their e-mail IDs with respective Depository Participants (DPs), for easy and quick communication in respect of ongoing Corporate Insolvency Resolution Process under IBC. The said notice is as follows:

Debenture holders are therefore, once again requested, to ensure that the e-mail ID is registered / updated with their respective Depository Participant (DP) on priority basis, so that the same is reflected in List of Debenture holders (BENPOS). Please note that communications by Catalyst will only be on e-mail IDs reflected in BENPOS. Requests to Catalyst for updation of mail ID cannot acted upon by it. Debenture Holders should request DP to confirm that such e-mail ID is marked for receiving communications from in electronic form.


Voting results of 2nd CoC meeting has been updated on the VDR (SmartRoom).


Status as on 20.01.2020 (11:45 a.m.):

The minutes of the 2nd C0C meeting held on 16.01.2020 received from Administrator on 18.01.2020 at 8:04 p.m. The same are uploaded on VDR (SmartRoom) immediately thereafter. There are two items on which debenture holders are expected to vote through e-voting process. Accordingly, the e-mails for e-voting have been sent through M/S Linkstar Infosys Pvt. Ltd., to all debenture holders on their e-mail IDs registered in BENPOS as on 10.01.2020. The debentureholders are requested to go through the minutes before voting. The time-lines for e-voting are as under: Start Date & Time : 19.01.2020 - 01:00 p.m. End Date & Time : 22.01.2020 - 11:00 a.m. As mentioned in the status dt.15.01.2020, DT will cast his vote in CoC on the basis of directions received from DH through E-voting.


In continuation to our status as on 13.01.2020, second CoC meeting was held on 16.01.2020 & minutes of the same are awaited from Administrator. The same will be uploaded on SmartRoom once received. Further, the E-voting for the matters as specified in minutes may begin on same day when minutes are received or next day. The credentials for E-voting will be shared on registered email ID as per Benpos. The email will be sent by Linkstar Infosys Pvt. Ltd. (Domain: @evotingforibc.com). Debenture holders are requested to take necessary action for whitelisting above mentioned domain to avoid inconvenience in E-voting as the time will be limited. CTL has sent mail communication in this regard from [email protected] and the same is kept on our website separately. Status as on 15.01.2020: Representation by Catalyst in meetings of Committee of Creditors: As reported earlier through this Status Report, proceedings under IBC are in progress. As a part of it, Administrator is holding meetings of Committee of Creditors (COC) and so far one meeting is held 30.12.2019 and 2nd meeting is proposed on 16.01.2020.

As per Section 21(6A) of the Insolvency and Bankruptcy Code, 2016 (“Code”), in respect of

debentures issued by DHFL, Catalyst, being the Debenture Trustee (DT) has to attend the meetings of COC and vote on behalf of debenture holders under each Series. Section 238 of Code provides that the provisions of the Code shall have over-riding effect, on any other law and debenture trust deed. As per Section 25-A of Code, DT has to cast vote on behalf of debenture holders (DHs) in accordance with the decision taken by a vote of more than fifty per cent under each Series, who have cast their vote on principle of ‘present and voted’. The DT in turn will vote on the basis of the directions of the DHs.

Considering the various provisions of the Code and Rules thereunder, following procedure is being followed.

1. The meetings of COC will be attended by senior officials of Catalyst alongwith experts in

financial sector. Apart from the same, representatives of Cyril Amarchand Mangaldas (CAM),

Legal Advisors for members of COC, including DT, will also attend the meetings. Further,

Administrator has allowed representatives from different sections of financial sector like

insurance, banks, mutual fund, PF, to attend COC meetings as invitees, to have benefit of their

views during discussion.

2. The notice and minutes of each meeting of COC is shared with DHs through the VDR facility,

on their e-mail IDs recorded in the list of DHs (BENPOS).

3. In respect of voting by Catalyst on such items where voting is sought from members of COC,

voting will be obtained from DHs under each Series, through M/s Linkstar Infosys Pvt. Ltd. The

communication in this behalf will be sent to DHs on their e-mail IDs recorded in the list of DHs

(BENPOS). Based on Scrutinizer’s Report on voting on each item by DHs under each Series,

Catalyst will vote on behalf of DHs, as a member of COC. As such, final decision will be taken

as per mandate given by DHs through the process of voting.

In view of the above, individual debenture holders neither can attend COC meetings nor required to do so. Debenture Holders can also download our Newly Launched Mobile Application- “My Trustee” from the links given below: Android-https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=en IOS- https://apps.apple.com/in/app/my-trustee/id1493251016


Notice of 2nd COC meeting has been uploaded in VDR (Smart Room).

ALL DEBENTURE HOLDERS

VERY IMPORTANT AND URGENT

We solicit your immediate attention to your investments in debentures of Dewan Housing Corporation Ltd. (DHFL). It is observed from the latest data of Beneficiary Owners Position (BENPOS) provided the by Registrar and Transfer Agents (RTA) of the related issues that e-mail address connected to the said investments in respect of some Debenture Holders, is NOT

https://play.google.com/store/apps/details?id=mydt.ctltrustee.com.mydt&hl=enhttps://apps.apple.com/in/app/my-trustee/id1493251016

MENTIONED therein. In this connection, we state: 01. As per provisions of IBC (Regulation 16-A (9 and 25(5, 6) of IBBI CIRP) Regulations), the e-

voting window should be open for a minimum of 12 hours. The aforesaid schedule does not

recognize intervening weekly offs or holidays. It is therefore emphasized the utmost

importance of recording of e-mail address in the BENPOS, for proper and effective casting votes

by Debenture Trustee on behalf of debenture holders, in the aforesaid strict time schedule.

02. In terms of the Insolvency and Bankruptcy Board of India (Insolvency Professionals)

Regulations, 2016 (Rule 7 Code of Conduct), all communications relating to the proceedings of

the CoC are to be restricted to debenture holders only and are to be held confidential. Hence,

the communications can be sent only to e-mail ID as recorded in the BENPOS. Your attention

is invited to Rule 20(7) of IBBI (CIRP) Regulations, 2016 which is as follows:

Rule20(7): “If a participant, other than a member of the committee, fails to provide or update the relevant e-mail address to the resolution professional, the non-receipt of such notice by such participant of any meeting shall not invalidate the decisions taken at such meeting.” CTL has therefore, put in place a virtual data room “Smart Room”. All agenda and related papers, draft resolutions etc., would be shared with Debenture Holders only on the registered e-mail IDs on the BENPOS, through the Smart Room on the e-mail IDs in the BENPOS. Access would be restricted and protected by mandatory requirement of username and password.

03. CTL has engaged services of M/S Linkstar Infosys Pvt. Ltd. for enabling Debenture Holders to

e-vote. Intimation of e-voting, open and close time, would be sent only on the registered e-

mail on the BENPOS. As a security measure, it would be mandatory to enter username and

password to enable casting of the e-vote.

We therefore urge upon the debenture holders to ensure that the e-mail ID, with appropriate authority to cast e-vote, be registered with the RTA / DP on priority basis, so that proper e-mail ID appear in BENPOS.


It has already been informed in the update of 31.12.2019 that in terms of the Regulations / Rules mentioned therein, the disclosure of information relating to resolution process under IBC, is restricted.

CTL is in the process of finalizing arrangements for sharing relevant details of developments under

IBC in the context of the Committee of Creditors strictly with Debenture Holders only through a Virtual

Data Room (VDR) facility. The ‘user name’ and ‘pass-word’ will be conveyed to the Debenture Holders

at their registered e-mail ID, as recorded in the latest list of debenture holders (Benpos). The

steps to be taken to access data and contact details of persons available for guidance to Debenture

Holders will also be made available. Debenture Holders are requested to ensure that their current e-

mail address is recorded with the respective depositories on priority basis, to get access to the

communications. The details of 1st CoC meeting will be shared shortly through the said VDR facility.

Debenture holders are requested to note that considering the provision of confidentiality as explained

in Status Report dated 31.12.2019, the information in respect of IBC proceedings will be shared only

with the registered debenture holders. The communication in this behalf will be given ONLY to e-

mail ID registered with RTA / Depository Participants. The same will not be shared by emails

other mail ID than registered with RTA.


Administrator / Resolution Professional convened the first meeting of Committee of Creditors (CoC) of

DHFL on 30.12.2019 in Mumbai. The meeting was primarily to update all creditors on the developments

on taking charge of Company by the Administrator and CIRP process and timeline etc. The minutes of

the meeting are awaited. However, the attention of the debenture holders is invited to the provisions of

IBC and Rules thereunder in relation to the disclosure of information relating to process under IBC:

a) Insolvency and Bankruptcy Code, 2016 (particularly Section 29(2);

b) Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016

(particularly clause 21 of Code of Conduct appended to First Schedule);

c) Circular No. IP(CIRP)/007/2018 dated 23.02.2018 of IBBI

The circular dt. 23.02.2018 of IBBI could be accessed through following link:

https://www.catalysttrustee.com/wp-content/uploads/2019/12/Confidentiality-of-Information-relating-

to-Processes-under-the-IBC-2016.pdf

As per above provisions, the disclosure of information relating to resolution process under IBC, is

restricted. However, DT is approaching Administrator to examine the feasibility of sharing the required

information with the debenture holders and modality therefor.


Catalyst announces launching of Mobile App – My Trustee!!!

Apart from this Status Report, Catalyst has been making all the relevant disclosures on its website www.catalysttrustee.com for information of debenture holders. However, it is observed that some of the debenture holders are finding it difficult to quickly get the required information from website.

For fast and easy communication, with regard to default in payment and action taken by debenture trustee, Catalyst has developed the Mobile App – ‘My Trustee’, giving updated information relating to default cases only, including DHFL.

The app will be available for download on Mobile “Play Store” of Android and Window phones and will be available on I-phones shortly. Debenture holders are still requested to visit website of Catalyst as well as NSE, NSDL for more details.

https://www.catalysttrustee.com/wp-content/uploads/2019/12/Confidentiality-of-Information-relating-to-Processes-under-the-IBC-2016.pdfhttps://www.catalysttrustee.com/wp-content/uploads/2019/12/Confidentiality-of-Information-relating-to-Processes-under-the-IBC-2016.pdfhttp://www.catalysttrustee.com/


In response to the Public Announcement dated 04.12.2019 of Administrator / Resolution Professional for DHFL, CTL has filed claims on 16.12.2019, in respect of each of debenture issues / series (total 34). The said claims are made in prescribed Form-C, in capacity as Debenture Trustee, as per the provisions of Section 7 read with Section 21 (6A) (a) of Insolvency and Bankruptcy Code, 2016, in respect of debentures only. While calculating the claims, amount of NCDs outstanding under each ISIN / Series, interest at coupon rate, penal interest / default interest etc. as per Term Sheet, has been taken into account.

In view of the same, we reiterate, there is no need for debenture-holders to file separate claim from their end.


Reserve Bank of India (RBI) has filed petition on 29.11.2019 with NCLT, Mumbai for initiation of corporate insolvency resolution process against Dewan Housing Finance Corporation Ltd. (DHFL). NCLT has passed an order dated 03.12.2019 admitting the petition of RBI and appointed Mr. R. Subramaniakumar, as an Administrator to perform all the functions of Resolution Professional.

Upon admission of the said petition, as per provisions of Section 14 of Insolvency and Bankruptcy Code, 2016 (IBC) institution of any suit or continuation of proceedings shall be prohibited, as also transferring, alienating or disposing of any assets by DHFL has been debarred.

As per provisions of IBC, Administrator has made public announcement on 05.12.2019 to call for the admission of Claims from the creditors of DHFL on or before 17.12.2019.

Catalyst Trusteeship Ltd. (CTL) is Debenture Trustee in respect of 34 issues of Listed Secured / Unsecured Non-Convertible Debentures (NCDs) issued by way of privately placed as well as public issues, from time. The status of action taken so far in respect of these NCD issues is as follows:

(A) In respect of 14 privately placed issues, debenture-holders had opted for resolution as per

guidelines of RBI dt. 07.06.2019. As such, no action of filing of suit with DRT was taken so far.

(B) In respect of 3 public issues, CTL has filed suit with Debt Recovery Tribunal-1, Mumbai (DRT) on

16.10.2019

(C) In respect of 6 privately placed issues, CTL has filed suit with DRT on 08.11.2019.

(D) In respect of 1 privately placed issue, debenture-holders have advised CTL to defer filing of an

application with DRT for recovery of dues / enforcement of security.

(E) In respect of 10 Unsecured privately placed NCDs, CTL has issued the notices of demand to

DHFL on 22.11.2019 and filing of suit with DRT was proposed to be filed after expiry of notice

period.

In response to the Public Announcement dt. 04.12.2019 of Administrator, following action is being taken by CTL:

1. The claim in respect of each of the Series (total 34 Series) will be filed with Administrator, well within

the stipulated time. While calculating the claim amount of NCDs outstanding under each Series,

interest at coupon rate, penal interest / default interest etc. as per Term Sheet will be taken into

account. In view of the same and also as per provisions of Section 21(6A) of IBC, there is no need for

individual debenture-holders to file separate claim with Administrator.

2. Further steps will be taken as per provisions of IBC and Rules thereunder as Debenture Trustee

from time to time.

For developments in the matter, debenture-holders are requested to visit websites of CTL, DHFL, NCLT and IBBI.


In continuation with our status dated 21.11.2019 RBI has filed Application for initiation of Corporate

Insolvency resolution process against DHFL on 29.11.2019.

The web-link for Press Release dated 29.11.2019 is as follows:

https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=48747


Ministry of Corporate Affairs, Govt. of India vide its Notification of 18th November, 2019, has notified

that Reserve Bank of India (RBI) shall be the ‘Appropriate Regulator’ in respect of NBFCs, including

HFCs, with assets more than Rs.500.00 cr., under the provisions of Section 227 of Insolvency and

Bankruptcy Code, 2016 read with Insolvency and Bankruptcy (Insolvency and Liquidation

Proceedings of Financial Service Providers and application to Adjudicating Authority) Rules, 2019.

RBI, in its press release of 20th November, 2019, has stated that it has superseded the Board of

Directors of DHFL and appointed Mr. R. Subramaniakumar, Ex-MD and CEO of Indian Overseas

Bank, as its ‘Administrator’ with immediate effect, under Section 45-IE of RBI Act, 1934. RBI has

further stated that it intends to shortly initiate the process of resolution of the company under

provisions of Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial

Service Providers and application to Adjudicating Authority) Rules, 2019 and apply to NCLT for

appointing the Administrator as the Insolvency Resolution Professional.
https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=48747

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